Universal Search is the ultimate search across all the content sources on the web; blog results, images, video results, local/map results, news results, books, patents, finance, code and catalogues. Including all "content elements" in the organic search result will effect the placement of your products & services in the Google search engine. For deeper understanding read Danny Sullivan's explanation -
Google 2.0: Google Universal Search.
By continuously comparing and ranking all web information in real time Google can provide a single, integrated set of search results that, in the ideal world, is exactly what you are searching for. For example if you search for "Hillary Clinton Iraq policy" you do not only want to get results related to traditional search result but also most popular blog post, most viewed video on YouTube and so on. Here is the Google Press Release on "Universal Search".
Some tips on how your business can leverage on Universal Search
#1 important thing to keep in mind when enriching your sources of content is that all your additional content must ADD CUSTOMER VALUE! The best start is to place yourself in the mind of the customer. When you enrich the content that you provide you improve your customers' experiences with your web site & your services.
Here's an example: If you are selling mobile phones over the Internet, e.g.
Katshing or
UK Phone Shop, you should start thinking about how to broaden your services and include other media channels than the web.
Examples on how a retailer for mobile phones can prepare for the Universal Search Trend:
Create a video tutorial when you release new mobile phones
Start a blog-session on Blogger that covers the differences between this new model and previous
Give a 3-d presentation of that new super nice mobile phone model - sell it visually